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"Ralcorp Holdings, Inc. (NYSE: RAH) announced today that it signed a letter of intent to purchase Ontario Foods, Inc., a producer of private label dry mixed products with approximately $50 million in sales. Under the terms of the letter of intent, Ontario Foods&amp;#39; parent, Genesee Corporation, has agreed to negotiate exclusively with Ralcorp regarding the purchase and sale of Ontario Foods. Terms of the transaction were not disclosed.In addition to the parties executing a definitive agreement, the transaction is subject to approval by Genesee&amp;#39;s shareholders and customary regulatory consents.Ontario Foods, Inc. is based in Medina, New York and produces dry mixed products such as: instant iced tea; sweetened powdered drink mixes; hot chocolate mixes; artificial sweeteners (aspartame and sugar substitutes); dry soups (including bouillon), and dry prepared meals (noodles and sauce, rice and sauce and stuffing mixes).With annualized sales of approximately $1.1 billion, Ralcorp produces a variety of store brand foods that are sold under the individual labels of various grocery, mass merchandise and drug store retailers. Ralcorp&amp;#39;s diversified product mix includes: ready-to-eat and hot cereals, crackers and cookies, snack nuts, salad dressings, mayonnaise, peanut butter, jam and jellies, syrups, and various sauces. In addition, Ralcorp holds a 21.8 percent interest in Vail Resorts, Inc., the premier mountain resort operator in North America.NOTE: Information in this press release that includes information other than historical data contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are made based on information currently known and are subject to various risk and uncertainties and are therefore qualified by the Company&amp;#39;s cautionary statements contained in its filings with the Securities and Exchange Commission."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.just-food.com/news/ralcorp-holdings-inc-signs-letter-of-intent-to-purchase-ontario-foods-inc_id89762.aspx>